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Posco expects Chinese steel market to rebound in Q3
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Reportedly, the South Korean steel giant Posco recently indicated that the Chinese steel market would rebound in the third quarter of this year, driven by the Chinese government’s simulative policy for economy.
At the same time, Park Ki-hong, the Chief Financial Officer of Posco indicated that the firm’s sales profits in the second half of this year is expected better than the first half.
It’s known that Posco’s operating profits slumped by 29% year on year in the second quarter of this year due to slow demand and surged steel imports from China and Japan into South Korean domestic market.
News Date
7/30/2012 10:04:00 AM
reported by
Echo Huo
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